The global image sensor market is expected to reach USD 25.6 billion in 2024 at a CAGR of 10.3%. Factors driving the global image sensor market are; growing demand for miniaturization in consumer electronics, rising demand for dual camera in smart phones and tablets, and growing government concern for security solutions in commercial as well as residential purposes. Moreover, growing need for cost effective smaller pixel devices with high resolution and increasing demand for medical imaging is further augmenting the market growth. However, high manufacturing cost associated with image sensors may hamper the market growth. The years used for the assessment are as follows:

Historical year : 2014, 2015 and 2016

Base year : 2017

Forecast period : 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are:

Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources

Interacting with key opinion leaders of the market and developing data points based on interaction with them

Study of past trends in the market and their year on year impact on the market size and share

Analyzing the collected data points

Bridging the data points to calculate the total image sensor market and it various segments

Anticipating potential risks

Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global image sensor market

Finalizing the overall size and share for the global image sensor market

The global image sensor market is expected to grow significantly from USD 14.1 billion in 2017 to USD 25.6 billion in 2024 at a CAGR of 10.3%. Factors driving the global image sensor market are growing demand for miniaturization in consumer electronics, rising demand for dual camera in smart phones and tablets, and growing government concern for security solutions in commercial as well as residential purposes. Moreover, growing need for cost effective smaller pixel devices with high resolution and increasing demand for medical imaging is further augmenting the market growth. However, high manufacturing cost may hamper the growth of the market.

Image sensors are prominent owing to their significant growth in all application areas. With the growing requirement for better image quality and increasing demand for camera integrated devices including tablets, computers, smart phones and digital cameras, users are getting attracted towards it. Emergence of 3D image sensor has a huge impact on audience as it offers a 360 degree view, with ease of comfort.

On the basis of technology, adoption of complementary metal oxide semiconductor (CMOS) technology is expected to hold the major market share, owing to low power consumption, compact size and lower manufacturing cost. Based on array, area image sensor is anticipated to hold the major market share as it offers features like high quality of an image, high sensitivity, and high performance. Based on type, 3D image sensor is a fastest growing market due to growing applications in computer vision, and machine vision. On the basis of spectrum, non-visible spectrum is anticipated to grow with a highest CAGR owing to increasing usage in medical, automotive, consumer electronics and industrial applications. Based on application, consumer electronics segment is expected to account for highest market share in image sensor market.

Geographically, Asia-Pacific (APAC) is expected to acquire the largest market share during the forecast period owing to the growing demand for image sensors in consumer electronics such as tablets, cameras, smart phones, and other wearable electronics. The evolution of advanced driver assistance system (ADAS), mainly in China, for automotive application is further augmenting the demand of image sensor in APAC. Furthermore, this region is also the fastest growing region due to the rapid increase in number of smart phones users.